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Sterling weakened on fears that the BoE might not hike in November, after poor UK retail sales data. The dollar firmed after US third-quarter GDP beat forecasts, with growth of 3% year-on-year despite hurricane damage.
The article previews the BoE and FOMC meetings.
A stronger dollar on solid US growth makes US commodities more expensive for foreign buyers and can soften USD-denominated grain and meal prices. The effect is gradual and modest.
exchangerates.org.ukColin LawrenceOct 29, 2017After 2,356 past bullish macro events, US Dollar (Broad) moved a median +0.2% over 5 sessions (60% higher; middle half -0.3% to +0.7%), and +0.4% over 20.
Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
